65 Shares in Elevance Health, Inc. (NYSE:ELV) Acquired by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp acquired a new position in Elevance Health, Inc. (NYSE:ELV) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 65 shares of the company’s stock, valued at approximately $31,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in ELV. OFI Invest Asset Management purchased a new position in shares of Elevance Health in the third quarter worth approximately $25,000. ORG Partners LLC purchased a new position in Elevance Health during the fourth quarter valued at approximately $40,000. Orion Capital Management LLC purchased a new position in Elevance Health during the third quarter valued at approximately $46,000. Milestone Investment Advisors LLC purchased a new position in Elevance Health during the third quarter valued at approximately $51,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in Elevance Health during the fourth quarter valued at approximately $56,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Activity

In other news, EVP Felicia F. Norwood sold 14,111 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the transaction, the executive vice president now owns 31,460 shares in the company, valued at $16,791,460.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the transaction, the director now owns 9,109 shares in the company, valued at approximately $4,554,500. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Felicia F. Norwood sold 14,111 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the completion of the transaction, the executive vice president now owns 31,460 shares in the company, valued at approximately $16,791,460.40. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Elevance Health Stock Down 0.4 %

Shares of ELV opened at $537.26 on Friday. The firm has a market capitalization of $124.87 billion, a P/E ratio of 20.30, a P/E/G ratio of 1.18 and a beta of 0.78. Elevance Health, Inc. has a 12-month low of $412.00 and a 12-month high of $542.07. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a fifty day moving average price of $511.89 and a 200-day moving average price of $486.40.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The company had revenue of $42.27 billion during the quarter, compared to analyst estimates of $42.49 billion. During the same period in the prior year, the firm earned $9.46 earnings per share. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. Equities research analysts expect that Elevance Health, Inc. will post 37.24 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s payout ratio is 24.64%.

Analyst Ratings Changes

Several equities analysts have weighed in on ELV shares. Truist Financial reaffirmed a “buy” rating and set a $600.00 price target (up previously from $580.00) on shares of Elevance Health in a report on Friday, April 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $580.00 price target on shares of Elevance Health in a report on Wednesday, April 10th. Jefferies Financial Group lifted their price target on shares of Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a report on Friday, April 19th. Royal Bank of Canada lifted their price objective on shares of Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. Finally, StockNews.com cut shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $587.42.

About Elevance Health

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.